Veteran playmaker Tugay will leave Blackburn at the end of the season.
The former Galatasaray star, 38, who won 94 caps for Turkey, joined Rovers from Rangers for £1.3m in 2001.
Blackburn manager Sam Allardyce said: "We will say farewell at the end of the season and thank you very much for what you have done for Blackburn.
"Tugay has had a fantastic career, but the ever-increasing physical demands of the Premier League mean you cannot go on forever."
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